Green Bond Fact Sheet

The Green Bond Fact Sheet details a KES 4.3 billion (USD 41.5 million) green bond issued by Acorn Holdings on October 3, 2019, to finance residential construction in Nairobi, Kenya.

• Acorn Holdings issued a green bond on October 3, 2019, with a total amount of KES 4.3 billion (USD 41.5 million), a 5-year tenor, and a maturity date of October 2, 2024.
• The bond's proceeds are designated for the construction of residential buildings across six developments in Nairobi, which are expected to be completed in 2020 and 2021 to provide rental housing for students and young people.
• The bond is certified under the Climate Bonds Standard v2.1, specifically meeting the Low Carbon Buildings Residential Criteria through EDGE Certification.
• This issuance represents the first certification from Kenya. The bond carries a coupon of 12.25% and a credit rating of B1 Global, which is one notch higher than the Kenyan government's B2 rating.
• Bondholders will receive quarterly reports on the allocation of proceeds, including impact indicators such as water savings, estimated annual GHG emission reductions (tCO2), and estimated ex-ante annual energy consumption (KWh/m2).

APA

Climate Bonds Initiative (2019). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2019-10_KE_Acorn_Holdings.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2019. https://www.climatebonds.net/files/drupal-files/files/2019-10_KE_Acorn_Holdings.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=16 October 2019 |url=https://www.climatebonds.net/files/drupal-files/files/2019-10_KE_Acorn_Holdings.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2019}, month = oct, url = {https://www.climatebonds.net/files/drupal-files/files/2019-10_KE_Acorn_Holdings.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }